KUALA LUMPUR: CIMB Group Holdings Bhd shares advanced on Friday, April 1 as analysts viewed there was still more upside for the banking group.
At 9.45am, CIMB was up 16 sen to RM8.36 with 1.38 million shares done.
OSK Research said its large cap banking top picks are CIMB (BUY, FV: RM9.77) and Maybank (BUY, FV: RM10.07), while its mid-cap pick is RHB Capital (BUY, FV: RM9.56).
It said on Friday, April 1 that February loans growth moderated to 12.2% y-o-y versus 13.1% in January, mainly due to slower growth in the business sector (Feb: 13% vs Jan: 14.9%) in line with easing export growth.
'Although overall industry loans growth softened to 12.2%, it is still significantly higher YTD against our full-year estimate of 9.5% and the industry's 9%- 11% estimated range.
'The risk weighted capital and core capital ratios were maintained at 14.3% and 12.6% respectively,' it said.
Meanwhile,CIMB Bank and CIMB Islamic Bank said they would maintain their base lending rate and base financing rate at 6.3%. The two banks backtracked on their decisions in less than 24 hours after having announced a rise of five basis points on lending rates on Wednesday.
At 9.45am, CIMB was up 16 sen to RM8.36 with 1.38 million shares done.
OSK Research said its large cap banking top picks are CIMB (BUY, FV: RM9.77) and Maybank (BUY, FV: RM10.07), while its mid-cap pick is RHB Capital (BUY, FV: RM9.56).
It said on Friday, April 1 that February loans growth moderated to 12.2% y-o-y versus 13.1% in January, mainly due to slower growth in the business sector (Feb: 13% vs Jan: 14.9%) in line with easing export growth.
'Although overall industry loans growth softened to 12.2%, it is still significantly higher YTD against our full-year estimate of 9.5% and the industry's 9%- 11% estimated range.
'The risk weighted capital and core capital ratios were maintained at 14.3% and 12.6% respectively,' it said.
Meanwhile,CIMB Bank and CIMB Islamic Bank said they would maintain their base lending rate and base financing rate at 6.3%. The two banks backtracked on their decisions in less than 24 hours after having announced a rise of five basis points on lending rates on Wednesday.
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